In his presentation Pat Carroll noted that, 'Achieving product specific privacy seals from EuroPriSe is something we are very proud of. Not only does it cement our position as a global leader in data privacy and protection, but it puts us and our clients ahead of the game as the mobile/e-commerce market expands. Payment security is about balancing risk with usability, and at the same time building and maintaining trust and confidence - and that means taking a 'privacy by design' approach. Not only do our security solutions clearly meet the highest security standards, but they have privacy built in by design, further enhancing our security offering by improving customer usability and trust. Based upon the principle of "Low or No Friction", the ValidSoft solutions demonstrate that it is possible to achieve ease of use for the customer and the highest levels of security without compromising the privacy of the individual'.ValidSoft also addressed the recent card fraud report from Europol (the European Union's law enforcement agency whose main goal is to help achieve a safer Europe for the benefit of all EU citizens), which highlights the fact that fraud on EU issued cards is running at around 1.5 billion Euro a year. Of this, 600 million Euro is attributed to card-present fraud, the vast majority of which is perpetrated outside of the EU in non EMV-compliant countries. Commenting on the proposal of Europol to 'block' transactions from non-EMV compliant countries to address these unprecedented levels of fraud, Pat Carroll commented: "the credit card world knows it's easy to stop fraud – simply decline more transactions – but that's not very consumer friendly!"
ValidSoft Urges EU Policy-makers To Take Global Leadership On Security
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